ESIC payment due date pre-poned to 15th of following month

  Now due date for payment of ESIC is not within 21 days of following month, but within 15 days of following month.Regulation 31 stands amended whereby the contribution in respect of any employee shall be paid within 15 days of the last day of the calender month in which the contributions fall due. This shall come into force with effect from the contribution payable for the month of June, 2017 i.e. by 15fn July, 2017. Related Gazzate Notification dated 01/07/2017 is as follows :- THE GAZETTE OF INDIA, JULY 1. 2017 EMPLOYEES’ STATE INSURANCE CORPORATION New Delhi, the 01/07 /2017 No. N-12/13/1/2016-P&D—Whereas draft regulation further to amend the Employees’ State Insurance (General) Regulations, 1950 was published as required under sub-section ( I ) of section 97 of the Employees’ State

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Limit for Coverage under ESIC & More Sectors under ESIC & EPF

  Press Information Bureau Government of India Ministry of Labour & Employment 23-November-2016 Threshold Limit for Coverage under ESIC  The Government, in principle, decided to enhance the threshold limit of wage for coverage under the Employees’ State Insurance (ESI) Act, 1948 from existing Rs.15,000/- pm to Rs. 21,000/- pm. For this purpose, a Notification had been issued on 06.10.2016 inviting suggestion/objections from all stakeholders.As on 31.03.3016, the number of Insured Persons(IPs) under ESI Scheme were 2.14 crores. The additional number of IPs on account of wage revision are estimated to be 35 Lakhs. The ESI Corporation has taken a number of decisions to absorb the increased number of workers under its net like- Increasing hospital bed strength of ESI Hospitals by 50%, if the bed occupancy of the concerned hospital

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ESIC Act, 1948- Applicability, Wages and Contribution

  1. ESI SCHEME AND APPLICATION ESI Scheme for India is an integrated social security scheme tailored to provide Social Production to workers and their dependents, in the organised sector, in contingencies, such as Sickness, Maternity and Death or Disablement due to an employment injury or Occupational hazard. Applicability ♣ Sec 2(12) Non –seasonal Factories using power in and employing ten (10) or More persons ♣ Non –seasonal and non‐power using factories and establishments employing twenty(20) or more persons ♣  Sec 1(5), the scheme has been extended to shops,hotels, restarunts,cinemas including preview theatres, road-motor transports undertakings and newspaper establishments employing 20 or more persons NOTE:   The existing wage limit for coverage under the Act is Rs. 15,000/- per month ( w.e.f. 01/05/2010). 2. CASE LAWS ON APPLICABILITY OF ACT ♣ Factory

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Cos to have single form for EPFO

  Companies will soon have to fill just a single common form to enrol themselves with retirement fund body EPFO and state insurer ESIC. The government is planning to introduce this common registration form soon and the basic idea is to make the job easier for firms by cutting down layers of paperwork they go through for the process of registration. “We are working on a single composite form for registration with the Employees’ Provident Fund organisation (EPFO) and the Employees’ State Insurance Corporation (ESIC) which will be used by employers,” a senior official said. This form is expected to reduce the tedious work of filling multiple forms for registering with these two social security bodies and improve ease of doing business.

EPF- Change in name of Females post Marriage & correction of spelling mistakes

  Employees’ Provident Fund Organisation (Ministry of Labour & Employment, Govt. of lndia) No. WSU/10(1)2013 /Changes in MAP/21475 Dated 16th November, 2016 To All ACC(Zones) All RPFC-I/Officer-in-Charge Regional/Sub-Regional Offices Sub: Correction in name of PF member- Delegation of powers thereof. Ref:  HO circular No. WSU/9(1)2013/Settlement of claims/TC/ 15765 dated 02.12.2013 Sir/ Madam, Please refer to the above said subject. 2. As per the existing instructions, correction of name of member  or  his/her father ‘s/spouse’s name is to be made on receipt of joint request of the employee as well as the employer alongwith the supporting A copy of the above said circular is enclosed for kind information. 3. Based on the suggestions received from the field offices, the issue has been reviewed and it has been decided that henceforth powers

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Compliance Calendar Chart – June, 2016

  Below is the compliance chart for the month of June, 2016 6th June Due date for payment of excise and service tax for  the month of  May’2016 7th June Due  for payment of TDS/TCS for May’2016 10th June Last date for excise return for the month of May’2016 15th June Last date for payment of Provident fund liability 15th June Last date for first installment of advance tax for Assessee having tax liability >10000 and issuance of TDS certificate for other than salary for quarter 1 20th June Last date for payment of LBT 21st June Last date for payment of MVAT liability and monthly return. 21st June Last date for WCT TDS is for May’2016 21st June Last date for payment of ESIC liability for  May 2016. 25th

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Allocation of quantity of Black Pepper, Vanaspati Bakery, Shortening & Margarine and Coconut for import under the Indo-Sri Lanka Free Trade Agreement for the financial year 2016-17

  Government of India Ministry of Commerce & Industry Department of Commerce Directorate General of Foreign Trade Udyog Bhawan, New Delhi-110011.   Trade Notice No. 7 /2016, dated 27 May, 2016   To, Members of Trade All Regional Authorities of DGFT All Custom Authorities Sub: Allocation of quantity of Black Pepper, Vanaspati Bakery, Shortening & Margarine and Coconut for import under the Indo-Sri Lanka Free Trade Agreement for the financial year 2016-17. In terms of Annexure-1 to Appendix 2A of FTP, 2015-20 read with Public Notice No. 62 dated 25.02.2016, the allocation of 2,500 MTs of Black Pepper for import under the Indo-Sri Lanka Free Trade Agreement for the financial year 2016-17, is attached as Annexure to this Trade Notice. Since, no application has been received within the stipulated time

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Amendment in Annexure-1 of Appendix 2A of Appendices & Aayat Niryat Forms (2015-2020)

  Government of India Ministry of Commerce & Industry Department of Commerce Directorate General of Foreign Trade Udyog Bhawan, New Delhi -110 011 Public Notice No. 62/2015-2020 New Delhi, Dated the 25 February, 2016 Subject: Amendment in Annexure-1 of Appendix 2A of Appendices and Aayat Niryat Forms (2015-2020).  In exercise of powers conferred under paragraph 2.4 of the Foreign Trade Policy (2015-2020), the Director General of Foreign Trade hereby makes amendment in Annexure-1 of Appendix 2A in the table as under: Existing Provision: Annexure –I   Procedure for import of Vanaspati, Bakery shortening and margarine [ITC (HS) Code 1516, 1517, 1518], Pepper [ITC (HS) Code 0941] and Desiccated Coconut [ITC (HS) Code 08011100] under Indo-Sri Lanka Free Trade Agreement. 1. i) The total quantum of import of Vanaspati, bakery shortening and

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Electronic Assessment – Practical aspects

  Background CBDT vide its notification 2/2016 dated 3-Feb-2016 has prescribed Procedure, Formats and Standards for ensuring secured transmission of electronic communication. An attempt is being made to trace the difference in manual or physical submissions and electronic submissions. The two important differences are Documents will be in electronic format as compared to printed format. No or less opportunity for personal hearing.   Documents in electronic format -: Firstly, to be very honest, physical printing and signing the submission is a critical process that acts as a strong control to verify the various characteristics of the submission. We are accustomed to use email in much casual a manner as compared to submission at the time of assessment. Now we will be using email as manner of communication which will act as a

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Useful Links

Professional Institutions/Bodies Institute of Chartered Accountants of India (ICAI) Northern India Regional Council of ICAI (NIRC) Central India Regional Council of ICAI (CIRC) Eastern India Regional Council of ICAI (EIRC) Southern India Regional Council of ICAI (SIRC) Western India Regional Council of ICAI (WIRC) Bombay Chartered Accountants Society Institute of Cost Accountants of India Institute of Company Secretaries of India Federation of Indian Chambers of Commerce and Industry Information System Audit (ISA) The Information System Audit and Control Association & Foundation (ISACA) Life Insurance Corporation of India (LIC) Life Insurance Corporation of India (LIC) National Bank for Agricultural & Rural Development (NABARD)   Public Financial Institutions Industrial Development Bank of India (IDBI) Industrial Finance Corporation of India (IFCI) Industrial Investment Bank of India (IIBI) Unit Trust of India (UTI) Export

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